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COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES FINAL DIVIDENDS FOR THE YEAR ENDED DEC. 31, 1992

 SANTIAGO, Chile, March 19 /PRNewswire/ -- The board of Compania de Telefonos de Chile S.A. (NYSE: CTC) announced that it would propose at the company's annual shareholders' meeting to be held in Santiago on April 16, the payment of a final dividend of CH 9.9005 per common share (calculated over the basis of the subscribed and paid shares at March 18, 1993). For illustrative purposes only, this represents US$0.4222 per ADR (before withholding tax) at the prevailing CH/U.S. dollar exchange rate.
 The payment of this dividend will be made on May 12, 1993, and on June 3, 1993, in Chile and United States, respectively, to shareholders of record May 6, 1993. Including this payment, dividends paid by CTC in respect of 1992's net income will total CH 47.51452.
 Compania de Telefonos de Chile S.A., the first South American company to list its shares on the New York Stock Exchange, is the largest telecommunications enterprise in Chile providing local, long- distance and international telephone services in 77 percent of the country's territory where 92 percent of Chile's population resides. Additionally, the company operates a cellular network in the two principal metropolitan areas of Chile, Santiago and Valparaiso.
 -0- 3/19/93
 /CONTACT: Alejandro Rivera, head of investor relations for Compania de Telefonos de Chile, 011-562-696-1147, or Joseph N. Jafoni, or Felicia Vonella of Dewe Rogerson, 212-688-6840, for Compania de Telefonos de Chile/
 (CTC)


CO: Compania de Telefonos de Chile S.A. ST: IN: TLS SU: DIV

CK-AH -- NY061 -- 8042 03/19/93 16:53 EST
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Date:Mar 19, 1993
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